Question 880985: A total of $22,000 is invested in 3 accounts earning 3%, 5%, and 7% annual interest. The combined interest for one year is $1146. If the amount invested at 7% is four times the amount at 5%, find the amount invested at 3%.
Answer by lwsshak3(11628)   (Show Source):
You can put this solution on YOUR website! A total of $22,000 is invested in 3 accounts earning 3%, 5%, and 7% annual interest. The combined interest for one year is $1146. If the amount invested at 7% is four times the amount at 5%, find the amount invested at 3%.
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let x=amt invested at 5%
4x=amt invested at 7%
22000-5x=amt invested at 3%
..
.05x+.07*4x+.03(22000-5x)=1146
.05x+.28x+660-.15x=1146
.18x=486
x=486/.18
x=2700
amount invested at 3% = $2700
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